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Aug 12, 2014
08/14
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they have a competing system, yet the sec has asked those organizations to submit a proposal to the sec as far as who will ilda and put in place this massive, unprecedented computer system. they are supposed to deliver the recommendations in september but they are already a year-and-a-half behind. they have had two extensions already and it's already taken way too long. >> would you be in partnership with finra to put together a system so you don't turn off the old system? how do you get around these competing interest? >> what the sec should have done is hire someone independent to seek independent bid to control the conflicts of interest. there he have a system where finra will pick they winner and they are putting themselves, the haute system will be obsolete if in fact the new system comes into place. it is incredibly important that they get this right. if you look at the flash crash in may of 2010, $1 trillion in market value disappeared in about 10 minutes and like a bungee cord, snapped back 10 minutes later. but airing that harrowing time, he engle share of apple computer was so
they have a competing system, yet the sec has asked those organizations to submit a proposal to the sec as far as who will ilda and put in place this massive, unprecedented computer system. they are supposed to deliver the recommendations in september but they are already a year-and-a-half behind. they have had two extensions already and it's already taken way too long. >> would you be in partnership with finra to put together a system so you don't turn off the old system? how do you get...
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Aug 2, 2014
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the sec is not happy with time warner cable, all coming down to the doctors. we break down the brawl, next on "lunar west." ♪ >> time for bloomberg tv's "on the markets." let's do you caught up on where stocks traded today. lower across the board, the second a lower. dow erasing gains for the year. s&p 500 down 2.7% for the week, the biggest weekly drop in two years. investors risk averse. >> you are watching "bloomberg west," we focus on technology, innovation, and the future of business. the federal communications commission is pressuring time warner cable to end a fee fight with pay-tv providers over the cost of carrying los angeles dodgers gains, resulting in the games blacked out to millions of residents. the sec chair sent a letter to the ceo of time warner cable, saying he was troubled. dozens of lawmakers have written letters urging them to end the feud. we are joined by mike kramer, former president of the texas rangers, now with the university of texas at austin. he joins us via skype from austin. back from new york, our own cory johnson. to some p
the sec is not happy with time warner cable, all coming down to the doctors. we break down the brawl, next on "lunar west." ♪ >> time for bloomberg tv's "on the markets." let's do you caught up on where stocks traded today. lower across the board, the second a lower. dow erasing gains for the year. s&p 500 down 2.7% for the week, the biggest weekly drop in two years. investors risk averse. >> you are watching "bloomberg west," we focus on...
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Aug 13, 2014
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sec in all of their splendor. anyway, bank of england cutting their wage forecast. we will find out what that means and why you should care. we are streaming on your tablet, your phone, amazon tv. is there any place we are not? >> and apple tv. ♪ >> good morning, everyone. tomorrow on the program, america's fiscal policy. one of our most popular guest will join us. you know him as the congressional budget office director, now the american action form. douglas holt eakin on improving the budget deficit. my first question is, can we go to surplus in our nation's budget? will do that on television and radio tomorrow at 7:00 a.m. good morning, everyone. it's bloomberg "surveillance." i have adam johnson and oblivion willis sparks and david zervos joining us. right now, olivia sterns. jack my is planning about 100 meetings over three continents in two weeks. raise ups expected to to $20 billion. that would make it the largest ipo ever. and raising as much as $345 million to expand its operating business at the huffington post. -- at aol. and the maker of candy crushed
sec in all of their splendor. anyway, bank of england cutting their wage forecast. we will find out what that means and why you should care. we are streaming on your tablet, your phone, amazon tv. is there any place we are not? >> and apple tv. ♪ >> good morning, everyone. tomorrow on the program, america's fiscal policy. one of our most popular guest will join us. you know him as the congressional budget office director, now the american action form. douglas holt eakin on...
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Aug 27, 2014
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>> they have been vetted as the sec for a long time now. that said, they have been vetted by the sec. there is a risk about people not paying. this model has not been around a long time. they talk about extra fees attached to the financiers of the deal that will happen that as long as they go through, they will have to seek a third party ticket collection of the loan. they will have to pay more money and greater transaction fees. >> some of the customers, small businesses, students? people who want to get elective surgery, things banks will not cover. >> can they make me shorter? >> then you will not need the knee defender. us.ontinue to follow lending club has just filed for an ipo. initially save $500 million. thank you for watching this edition of bloomberg "west." ♪ >> from bloomberg world headquarters in new york, imr crompton. this is bloomberg "bottom line." we look at the islamic state militants funding network. rahm emanuel discusses job creation. draftarmour wants to kevin durant. to our viewers here in the u.s. and those of you
>> they have been vetted as the sec for a long time now. that said, they have been vetted by the sec. there is a risk about people not paying. this model has not been around a long time. they talk about extra fees attached to the financiers of the deal that will happen that as long as they go through, they will have to seek a third party ticket collection of the loan. they will have to pay more money and greater transaction fees. >> some of the customers, small businesses, students?...
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Aug 6, 2014
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fromat we are seeing is the sec, no, we want for carriers. you cannot do this. is there any evidence that it will beat a carrot -- there will be a carry it down -- is there any evidence of a carrot down the line, to? are comingm auctions up next year. is there any sense of committing to that in a -- in exchange for merger?ing this murde >> i think you're right, the sec when they were setting the rules for the auction, very much wanted to carve out a significant portion of the spectrum to be set aside for all carriers who are not named at&t and verizon. unfortunately, because the sprint-t-mobile transaction was looming and they wanted to send every possible to sprint saying, don't bring this deal because we will have to reject it, the irony is that the rules that they said were much less favorable for sprint than they otherwise would have been. >> i would agree with that. craig moffett, thank you so much. and thank you paul sweeney. >> our guest is aaron hearst. we will get his thoughts shortly. we want to get to our twitter question of the day. treat us. -- twee
fromat we are seeing is the sec, no, we want for carriers. you cannot do this. is there any evidence that it will beat a carrot -- there will be a carry it down -- is there any evidence of a carrot down the line, to? are comingm auctions up next year. is there any sense of committing to that in a -- in exchange for merger?ing this murde >> i think you're right, the sec when they were setting the rules for the auction, very much wanted to carve out a significant portion of the spectrum to...
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Aug 28, 2014
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i think the improved job situation, decline in the unemployment rate, is helping the housing sec air. i think the housing story is one where we will see the pace that we saw in the second quarter continue, but that is a better pace than we had seen over the last six months. housing has struggled since last summer when we saw the backup in mortgage rates. it feels like maybe it is getting its feet back under it, but we will not see the kind of double digit growth, particularly in home prices, that we saw in 2012-13. >> we have been looking at these market numbers at the bottom of the screen and markets are trending lower at this hour. were you expecting the market to be more excited about the gdp number, or can we chalk this up to being a late day in august? in august.late day this is a revision to the second-quarter gdp numbers. and the revisions were not that large to begin with. is focus on there geopolitical issues with russia. that is dominating the conversation more. it.s face next week's numbers, we get the first numbers out for the month of august, including the jobs report. th
i think the improved job situation, decline in the unemployment rate, is helping the housing sec air. i think the housing story is one where we will see the pace that we saw in the second quarter continue, but that is a better pace than we had seen over the last six months. housing has struggled since last summer when we saw the backup in mortgage rates. it feels like maybe it is getting its feet back under it, but we will not see the kind of double digit growth, particularly in home prices,...
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Aug 5, 2014
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argentina is essentially suggesting that they negotiated in bad faith and they are asking the sec and the u.s. to help them investigate who owns these cds contracts and whether something untoward has occurred. >> here's a twist. argentina wants the debt negotiation or -- the debt negotiator and mediator of place. is the judge going to give them their wishes? >> they are trying everything they can. they went to court last week and they said, we have lost faith in this initiator, daniel pollack is his name. in argentina, they have called him in by ash have called him biased and incompetent. there is very fiery rhetoric coming out of the country. they said they would like someone else to start fresh. today, the judge said, no. there was no gray area in this response. he basically said, it would be a disaster if we changed at this point. you are stuck with this guy. >> bloomberg is reporting argentina's dollar-denominated bonds that defaulted, they are actually doing quite well in the market, better than the peso denominated bonds that did not default. how is this possible? it is counteri
argentina is essentially suggesting that they negotiated in bad faith and they are asking the sec and the u.s. to help them investigate who owns these cds contracts and whether something untoward has occurred. >> here's a twist. argentina wants the debt negotiation or -- the debt negotiator and mediator of place. is the judge going to give them their wishes? >> they are trying everything they can. they went to court last week and they said, we have lost faith in this initiator,...
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Aug 29, 2014
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that is what i want to see, not the sec or scc or the big 10. those big conferences, teams like boise state, are these teams going to be able to play for the national championship even if undefeated? that is what i want to see. or is a one loss team from a power conference one to get in? that is what we will be looking at and maybe does unconscious bias against the power compasses allowing two teams from one conference. >> always great to have you here on "market makers." >> whatever happened the sports just been less complicated? watch sports and go home. >> big-money enter the arena. >> coming up, a diamond in the rough. his only baseball experience was a fantasy league and now former consultant is trying to rescue a major league team. >> you are watching "market makers." if you like "moneyball" you should be cheering for the houston astros. remember the story about the oakland a's? the lineng talent and of based on data alone? it was successful. the astros are taking a controversial yet much copied strategy to whole new level. a former can --
that is what i want to see, not the sec or scc or the big 10. those big conferences, teams like boise state, are these teams going to be able to play for the national championship even if undefeated? that is what i want to see. or is a one loss team from a power conference one to get in? that is what we will be looking at and maybe does unconscious bias against the power compasses allowing two teams from one conference. >> always great to have you here on "market makers."...
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Aug 18, 2014
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[please standby] i tried >> and when you talk about the industry, there are other sec there's that are involved. fast-moving consumer goods, rendering the kind of my next might go back into a run after not being a phone. >> distillate producers sort of theythe international -- are talking about coming back. some --ustry ran potentially of sanctions were listed, but market share there. actually something that is allowed under the current interim agreement which lifted some sanctions on iran. companies are talking very seriously about going back soon. the course, will watch cartagena politics haven't we? the u.s. and iran on -- at least in some areas. >> i think so. i think it argues that there might be a dinner. a lot of people said that the -- in iraq, for instance, fighting. imminently are not working together, there is an alignment of interest. this might help in other areas, like nuclear negotiations. >> so, television crime dramas like csi have popularized his work. reality, new advances in influenza clients are helping police crack unsolved mysteries. jonathan reports. x this 3-d
[please standby] i tried >> and when you talk about the industry, there are other sec there's that are involved. fast-moving consumer goods, rendering the kind of my next might go back into a run after not being a phone. >> distillate producers sort of theythe international -- are talking about coming back. some --ustry ran potentially of sanctions were listed, but market share there. actually something that is allowed under the current interim agreement which lifted some sanctions...
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Aug 4, 2014
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also former chairman of the sec and currently a board member at bloomberg lp. the top ofyou put at the list? >> the fact that new york state, new york city's pension funds are constituent government. main five by the funds not one each with their of directors. that means seven sanitation stocks, pickthe the investments that the sanitation fund invests in. that is terrible governance to begin with. >> they do not literally pick the stock. they picked the people. >> people and from time to time pick the strategies. .verrules professional staff that is always a sign of a pension fund in trouble. if the trustees overrule the staff in terms of selecting advisors or selecting investments, that is a problem. >> i would not even call them bad governance. that is just nongovernment. >> that is really true. , $35 billion is spending 175 million and expenses. they do none of it internally. all of it is given out. the basic problem here -- is 170 5 million now, 15llion managed years ago $17 million in expenses on almost the same amount of money. the what they have done is
also former chairman of the sec and currently a board member at bloomberg lp. the top ofyou put at the list? >> the fact that new york state, new york city's pension funds are constituent government. main five by the funds not one each with their of directors. that means seven sanitation stocks, pickthe the investments that the sanitation fund invests in. that is terrible governance to begin with. >> they do not literally pick the stock. they picked the people. >> people and...
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Aug 13, 2014
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fansu saw the way the sec were active on twitter, facebook -- it's -- >> saying they want this? >> not just they want this, but they need it. of four ncaa two final four teams in basketball. two teams in the college world series for softball. >> i felt like they were missing out. >> that is right. they want more. it is the most avid college fan base in the country. >> not to get too cynical, but they did not help that you are part of espn, which is part of walt disney? >> if you look at each of the deals that have been done for this network, you will see many were done on a one-off aces. some were done in the context of broader negotiations, but we did both, including when we announced the network back in may. erse support, and that helped us build the marketplace. >> how do you feel about the recent ruling by the judge saying that college athletes should get a piece of the pie? >> i have not spent a lot of time on it. my understanding is that focuses on the relationship with the athletes and the schools. my focus has been getting this network launched, and we have a lot of work
fansu saw the way the sec were active on twitter, facebook -- it's -- >> saying they want this? >> not just they want this, but they need it. of four ncaa two final four teams in basketball. two teams in the college world series for softball. >> i felt like they were missing out. >> that is right. they want more. it is the most avid college fan base in the country. >> not to get too cynical, but they did not help that you are part of espn, which is part of walt...
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Aug 5, 2014
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the sec could bring action and deal with that. so, you know, outside of the government companies, there are other mechanisms people can go through, but first, i think they are supposed to go internally through the board or other compliance procedures. >> right. so, that digs into the other issue, which is our companies able of policing themselves? >> that is what the chamber of commerce, in lobbying for new amendments to the false claims act is saying -- they are same companies that set up the compliance program should be given a break. potential penalties should be reduced, and whistleblowers should be required to first complained to the company before they go out and find a lawyer and sue. . -- the problem with that -- >> look at what that day with gm . >> exactly, and the problem is human nature. in any organization, the guy complaining that we are not doing things right will end up with a bull's-eye on his back and might find himself fired, if not worse. thisis the theory behind law. you basically created a conflict of power h
the sec could bring action and deal with that. so, you know, outside of the government companies, there are other mechanisms people can go through, but first, i think they are supposed to go internally through the board or other compliance procedures. >> right. so, that digs into the other issue, which is our companies able of policing themselves? >> that is what the chamber of commerce, in lobbying for new amendments to the false claims act is saying -- they are same companies that...
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Aug 29, 2014
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. >> the sec was clear, he wanted there to be four separate carriers and the u.s. market needed that. at&t want to t-mobile at one point. that is off the table. >> four wireless carriers for the u.s., for the long-term future? >> until there is a change in washington, i don't think we can expect a change there. with t-mobile emerging as a stronger competitor and seeing a growth in subscribers, i think that is how this will go forward. someone from another industry who might be parallel to this. dish, all of them are so busy right now with other merger plans. >> what does this mean for customers, john? is not much going to change? t-mobile has been shaking up certain data plans, arriving prices down. how long will that continue? >> look, emily, it bought them a lot of success. they are out there as the low-cost provider, and i don't see that changing. they have stuck to their guns, branding themselves as the consumer-friendly carrier out there, using price as the key weapon, and for good reason. if you look at telecom, it's a commodity service. again, legere is taki
. >> the sec was clear, he wanted there to be four separate carriers and the u.s. market needed that. at&t want to t-mobile at one point. that is off the table. >> four wireless carriers for the u.s., for the long-term future? >> until there is a change in washington, i don't think we can expect a change there. with t-mobile emerging as a stronger competitor and seeing a growth in subscribers, i think that is how this will go forward. someone from another industry who...
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Aug 17, 2014
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the sec declined to comment. alibaba pages were declined on friday in hong kong. were declinedches on friday in hong kong. they will large -- launch the handset this month. softbank is trying to cut costs after abandoning its plan to buy -- earlier this month. u.s. authorities say they would allow -- to sell its low-end business to lenovo. billion deal will give the chinese company a bigger slice will of the -- slice of the global computing market and allow ibm to focus on areas that include the cloud. those are the top corporate stories and headlines this monday morning. i'm john dawson. maine -- the main chinese stock benchmark rose to an eight-month high last week. week was speculation that economic data would push the central bank to step in. bad news was good news? >> yeah. >> but is it good news? >> you look at different markets around the world. they tend to interpret news from the central bank differently. if you look at the rate cut, ok, good times are coming, there is more money. lookina's case, how they at these rate cuts -- 7 2, 3, 4, 5, 6, and 7 -- ra
the sec declined to comment. alibaba pages were declined on friday in hong kong. were declinedches on friday in hong kong. they will large -- launch the handset this month. softbank is trying to cut costs after abandoning its plan to buy -- earlier this month. u.s. authorities say they would allow -- to sell its low-end business to lenovo. billion deal will give the chinese company a bigger slice will of the -- slice of the global computing market and allow ibm to focus on areas that include...
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Aug 1, 2014
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when you look through the sec filings, when they went public, there's very little in terms of numbers about their media business. did they give any more details about how that is going? >> in short, no. this always conference calls where you can do that. i think you are right. as you went through the filings of this company, the one thing you could sink your teeth into was the shipments of the devices. last year, they moved about 3.8 million of these things, basically tripled from 2011. there's no doubt they are moving the hardware. as far as the image of this being a media company, i think that is a long road. there are the high-profile examples they have shared, getting more deals cut, the watch gopro video when you are an xbox one user or on an american airlines flight. still hard to see the numbers. >> thank you so much. senior west coast correspondent jon erlichman. joining me now, to help us break down the earnings report from tesla, the ceo of weiss harrington & associates, nathan weiss, and also efraim levi, from the s&p. >> they beat estimates. --i wasn't going to rhyme rub i
when you look through the sec filings, when they went public, there's very little in terms of numbers about their media business. did they give any more details about how that is going? >> in short, no. this always conference calls where you can do that. i think you are right. as you went through the filings of this company, the one thing you could sink your teeth into was the shipments of the devices. last year, they moved about 3.8 million of these things, basically tripled from 2011....
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Aug 1, 2014
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you have teams like texas and missouri disappear from the big to the sec,ver thinking they better get there now. it sent a big shock through college football, and frankly, while there is some stability , as every major conference has put together their own tv deal, there is more to come, more shifting, a smaller group of teams that will be able to compete for a real national championship in college football, because the money will be concentrated in probably the top 50. >> before we go, in terms of this dodgers dispute getting settled, everybody involved seems to be on board with the idea of a mediator getting involved. comcast looking to acquire time warner and get the link -- regulatory approval on the deal. do you think that transaction will ultimately force time warner cable to get this resolved? >> i don't think so. there are a lot of heavyweights of look at who is involved in this. you have united states government aside, i guess that is big enough. but you have comcast and time warner that are merging. you have at&t and directv that are trying to merge. they are four of the top
you have teams like texas and missouri disappear from the big to the sec,ver thinking they better get there now. it sent a big shock through college football, and frankly, while there is some stability , as every major conference has put together their own tv deal, there is more to come, more shifting, a smaller group of teams that will be able to compete for a real national championship in college football, because the money will be concentrated in probably the top 50. >> before we go,...
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Aug 8, 2014
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>> we're talking about what, the sec, the pac-12, and these little guys -- i do not mean to be offensive, but it sounds like they are battling over table scraps while the big guys are getting the bulk of the food here. >> that is it. it may sound defensive, but it is tough not to get to honesty, what -- which is what you are really talking about. these powerhouses really run on a completely different model than the smaller conferences. >> right now it seems like literally a different set of rules. bo custer, the president of boise state university, he was not happy with this at all. he told the associated press, for those who think division one athletics has devolved into a business that 200 often a text university priorities rather than the other way around, it is about to get worse. are there checks and balances? >> the ncaa is supposed to be that organization of checks and balances, and come back to the question of where the ncaa is. >> what do your students tell you? there has to be a lively debate in the classroom. what are they saying? -- they are literally going to be the owners a
>> we're talking about what, the sec, the pac-12, and these little guys -- i do not mean to be offensive, but it sounds like they are battling over table scraps while the big guys are getting the bulk of the food here. >> that is it. it may sound defensive, but it is tough not to get to honesty, what -- which is what you are really talking about. these powerhouses really run on a completely different model than the smaller conferences. >> right now it seems like literally a...
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Aug 7, 2014
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it is incredible to have an sec chairman come out so strongly -- now, mind you, it's just a day after sprint has left this deal, but to come out so strongly saying it is good to have separate carriers. i think it shows just how strong new regulatory ire might have been, had sprint pursue this. >> i just spoke with john legere earlier this week, the colorful ceo of t-mobile. i asked him if the sprint deal did not happen, what are other options, what about dish? this is what he had to say. >> i've been very consistent. i will not comment on any specific transactions of the company, never have. i've always been consistent that in the long term, if i really want to bring in long-term competition and lead this entire industry in the u.s., sales are important, capital is important. and one of those things could be a transaction in organically of some type. i've always said we have multiple options. in the short-term, what i have pointed out is that wanted to native lee and qualitatively, this company is hitting on all cylinders and we have a great runway. we have multiple options to acceler
it is incredible to have an sec chairman come out so strongly -- now, mind you, it's just a day after sprint has left this deal, but to come out so strongly saying it is good to have separate carriers. i think it shows just how strong new regulatory ire might have been, had sprint pursue this. >> i just spoke with john legere earlier this week, the colorful ceo of t-mobile. i asked him if the sprint deal did not happen, what are other options, what about dish? this is what he had to say....
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Aug 21, 2014
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moving forward, i think this will become comcast's problem and the sec may say, you have to come to a new agreement. say, you have to come to a new agreement. comcast may be incentivized to do that too. they may say, it makes sense for us to have a lower price so that we do not get hit in years to come by fox and other companies. >> interesting. >> the dodgers fan will ultimately win, but maybe not this year. >> great analysis and breakdown of that. still ahead, a lesson in gender diversity. why silicon valley companies should be looking to alibaba to solve diversity. that is next. ♪ >> an israeli airstrike on gaza has killed three of hamas's top military commanders. the top military commander's wife and daughter were killed a day after prime minister benjamin netanyahu warned that palestinian military leaders would be hunted down. vowing revenge. alibaba can give a lesson in gender diversity. counts nine females among its 27 partners that control management. oft is triple the ratio women at the largest companies in california. the american doctor who contracted ebola in liberia wil
moving forward, i think this will become comcast's problem and the sec may say, you have to come to a new agreement. say, you have to come to a new agreement. comcast may be incentivized to do that too. they may say, it makes sense for us to have a lower price so that we do not get hit in years to come by fox and other companies. >> interesting. >> the dodgers fan will ultimately win, but maybe not this year. >> great analysis and breakdown of that. still ahead, a lesson in...
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Aug 21, 2014
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he has a $65 million settlement with the sec. this would be a much more powerful suit against him. the penalties they can impose are staggering. they can take any amount equal to any profit or gain he made or any losses to anyone else. to others would exceed anything he made. >> the strategy the department of justice is using for this is billion dollars for. .nd thank for america paying 17 at has a 10 year statute of limitations. it is a tool the department of justice has been using to reach back into the banks and pull out the fines. the criminal statutes are pretty much expired. they really cannot press charges on a lot of the individuals at this point. -- mozilla would probably rather spend time in jail than heart with his honey. >> will it really bankrupt him? it will be really interesting to see what kind of money when they filed this they are looking to get out of him. >> does wrongdoing come with this? he did not admit wrongdoing. >> if he settles, they may or may not require wrongdoing. there is a precedence in the u.s. case against countrywide. a case in the same statue bu
he has a $65 million settlement with the sec. this would be a much more powerful suit against him. the penalties they can impose are staggering. they can take any amount equal to any profit or gain he made or any losses to anyone else. to others would exceed anything he made. >> the strategy the department of justice is using for this is billion dollars for. .nd thank for america paying 17 at has a 10 year statute of limitations. it is a tool the department of justice has been using to...
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Aug 27, 2014
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cory johnson beginning to the sec filing. stay "in the loop." ♪ >> well, china is considering a $16 billion investment in infrastructure for electric cars as pollution in major cities is growing out of control. with this chicken and egg approach payoff for the company -- country? matt miller has been the cap demand in china for electric vehicles. it is big, right, that? >> it is not as big as it is here, keep in mind the auto market in china is growing at a faster pace. china puts the carriage before the horse, as they say. i actually took a look at how much this is in relation to the revenue, and if you look back at tesla's revenue since their inception and really 2007, through this year, even taking in mind the most bullish forecast, it is still more than twice as much as tesla has ever sold. so, i thought that was very interesting. we were expecting tesla to sell almost $4 billion in cars this year -- or get $4 billion in revenue. they got $2 billion in revenue last year. this would work those numbers and maybe help them
cory johnson beginning to the sec filing. stay "in the loop." ♪ >> well, china is considering a $16 billion investment in infrastructure for electric cars as pollution in major cities is growing out of control. with this chicken and egg approach payoff for the company -- country? matt miller has been the cap demand in china for electric vehicles. it is big, right, that? >> it is not as big as it is here, keep in mind the auto market in china is growing at a faster pace....
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Aug 5, 2014
08/14
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you will have to enter into discussions with the sec. people accuse you of some things they don't leave should exist in the exchange world like broker preference or queue jumping. where did those discussions stand? >> we are in the process of meeting with the regulators and talking to our subscribers. the conversations are positive. people realize that market based solutions are better than ones imposed by regulation. from our standpoint, it's about collecting the right viewpoint and moving forward. the issue around broker ing is one we have taken from the canadian marketplace. if a broker has a buy order and they get a seller that stock, they will remove the order from iex and traded in their own dark full. if there is another part of that order, it sits in their dark pool. we are asking them to send it to us. we want them to let it trade. the piece of the order that is not internalized can stay in the open market and interact with other.internalized orders broker preference thing -i preferenceng improves a lot of things. hear consisten
you will have to enter into discussions with the sec. people accuse you of some things they don't leave should exist in the exchange world like broker preference or queue jumping. where did those discussions stand? >> we are in the process of meeting with the regulators and talking to our subscribers. the conversations are positive. people realize that market based solutions are better than ones imposed by regulation. from our standpoint, it's about collecting the right viewpoint and...
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Aug 6, 2014
08/14
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>> the fed of the sec has ordered the best to go back to the drawing board and come back to regulators with a revised proposal by july 1, 2015. the big question is, how do they do that? the only conclusion you might be able to draw from this is that the fed is trying in it back your fashion to force these banks to break up or at least sell businesses. was put in pretty simple terms. they made up their minds. big institutions are a major risk and need to be split up. some are pursuing explicit legislation. others want to burn the big institutions so much that they simply cannot operate effectively. that is the subtext here. >> thank you so much. moving and shaking this hour, the aol ceo, tim armstrong armstrong. figures easily beat estimates to a one percent drop in profit. he says he is open to partnerships and deals but one thing he's not interested in is acquiring a company to save money on taxes. >> it is not something i spend any time thinking about. is, once you start talking about taxes, for a company like ours focused on a marketplace, our job has to be to focus on consumers and
>> the fed of the sec has ordered the best to go back to the drawing board and come back to regulators with a revised proposal by july 1, 2015. the big question is, how do they do that? the only conclusion you might be able to draw from this is that the fed is trying in it back your fashion to force these banks to break up or at least sell businesses. was put in pretty simple terms. they made up their minds. big institutions are a major risk and need to be split up. some are pursuing...
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Sep 1, 2014
09/14
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sec questions, and closer ties and stronger to send. wants to counter china's growing influence. and the purcha m
sec questions, and closer ties and stronger to send. wants to counter china's growing influence. and the purcha m
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Aug 13, 2014
08/14
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i am a bit loath to drift into sec territory, except to say the view of the implications of the consistents entirely with the mpc view that they were largely transitional, that they enhanced underwriting in the market but not viewed as something that would permanently slow activity going forward, which is going to be higher-quality. carney, i think 90% have released a report thinking there is no wage growth, no hike anytime soon but you are always looking for growth. looking for three point five percent growth this year. how do you reconcile the growth with record low interest rates, and is there a risk that there is putting too much emphasis on a 25 basis points rise in rate and not the absolute level? what are your thoughts? of things. you are the one putting tremendous emphasis on one move in rates. that is the great opus, when is the bank going to move the first time? >> the bank of england governor mark carney ruth -- releasing the inflation report. he says rates will have to rise as the economy normalizes. cutting the annual wage growth to 1.25% versus the previous forecast of 2.5%. t
i am a bit loath to drift into sec territory, except to say the view of the implications of the consistents entirely with the mpc view that they were largely transitional, that they enhanced underwriting in the market but not viewed as something that would permanently slow activity going forward, which is going to be higher-quality. carney, i think 90% have released a report thinking there is no wage growth, no hike anytime soon but you are always looking for growth. looking for three point...
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Aug 28, 2014
08/14
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we learned with steve jobs that the disclosure on these matters, the sec does not have term rules so each of them plod forward as best they can. i think jpmorgan gets high marks. you have to disclose health issues for the ceos because these ceos are larger-than-life figures and they become an embodiment of their firms. >> they do, indeed. it's such a personal decision but thank you so much. up, millions are scrambling to get their fantasy football line of scrimmage for season. we will speak with the ceo of a company that offers an option for fans were not thrilled about the idea about that 16 week commitment. ♪ >> it's crunch time for a fantasy football time as everyone races to make their final lineup changes. there has been a lot of interest in recent years. people playion fantasy sports in the u.s. and canada spending an average 8.7 hours playing per week. one leading website is called make king and wants you to this a daily habit and just got a $41 million boost of funding this week. boston andns us from i want to bring in our "bloomberg businessweek" reporter. what are the num
we learned with steve jobs that the disclosure on these matters, the sec does not have term rules so each of them plod forward as best they can. i think jpmorgan gets high marks. you have to disclose health issues for the ceos because these ceos are larger-than-life figures and they become an embodiment of their firms. >> they do, indeed. it's such a personal decision but thank you so much. up, millions are scrambling to get their fantasy football line of scrimmage for season. we will...
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Aug 19, 2014
08/14
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. >> arthur levitt, former sec chairman, was really quite eloquent about what benjamin lawsky is doing. he runs the insurance department, he is the financial voice for the state of new york. mr. lawsky is making a splash. sachs goldman representative ahead of the chief office, probing from the new york head into how deutsche bank is reporting financial information. >> so many years after the crisis. >> let's continue. away from the economics, finance and investment. files overnight in ferguson, missouri. the st. louis suburb as national guard forces guarded police barracks. bloomberg news reports about 50 demonstrators in attendance. also in attendance, attorney general eric holder. what was the distinction at 1:00 a.m. this morning versus 24 hours ago? >> at 1:00 a.m., the streets were mostly clear. i want :00 a.m. -- at 1:00 a.m., there were defiant protesters taunting the police. after all of that, the police responded with pretty strong force. a lot of tear gas. it looks like a war zone. there was smoke in the air and teargas all over the place. it was a very disastrous picture. >>
. >> arthur levitt, former sec chairman, was really quite eloquent about what benjamin lawsky is doing. he runs the insurance department, he is the financial voice for the state of new york. mr. lawsky is making a splash. sachs goldman representative ahead of the chief office, probing from the new york head into how deutsche bank is reporting financial information. >> so many years after the crisis. >> let's continue. away from the economics, finance and investment. files...
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Aug 26, 2014
08/14
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quarter nation on regulation, just making sure that all regulators, whether it is with the cftc, the sec, the fed, and their counterparts overseas are all approaching things -- macro -- veryf quickly, macro prudential, are we anywhere near that? >> i'm not sure what they mean by that. -- iey fischer, others mean, i think that is going to be how the fed will manage the economy going forward, and that is what it is currently debating. >> tim bitsberger with bnp paribas. overet, we need to wonder to you for a data check. >> before we get to the data check, just an update on the news we had run you earlier -- burger king and tim hortons to merge. this is a headline. they are in a packed with 3g, the brazilian private equity company, will own 51% of this new company. they will keep two iconic and independent brands. this is according to a company statement. burger king has commitments for $12.5 billion of financing. we had heard earlier that warren buffett would be involved through berkshire hathaway. the new announcement here is that this new global company billion in aut $23 system sales, o
quarter nation on regulation, just making sure that all regulators, whether it is with the cftc, the sec, the fed, and their counterparts overseas are all approaching things -- macro -- veryf quickly, macro prudential, are we anywhere near that? >> i'm not sure what they mean by that. -- iey fischer, others mean, i think that is going to be how the fed will manage the economy going forward, and that is what it is currently debating. >> tim bitsberger with bnp paribas. overet, we...